Starting any new business is always an adventure. Whether you're starting from the ground up or looking to buy a business that needs a new owner, there's a lot to learn about the type of company you're purchasing.
If you've been thinking about looking for an appliance repair business for sale, we're here to help you know where to look and then what you'll want to think about once you purchase the company.
There's a lot to learn from choosing what services you’ll offer to the hours you'll operate and how you'll run your business. Our guide should provide insight and hopefully make buying an appliance repair business an excellent venture for you.
When you go ahead and purchase an established appliance repair business, you'll get to take advantage of things that come along with the company. These things include:
Depending on the appliance repair business you buy, you might have to start from scratch by hiring new technicians, getting more unused supplies, and reorganizing the hours of operation.
So, how do you go about finding appliance repair businesses for sale? Besides hearing about the businesses from people in your area, you have a few options that are the most likely options.
Several appliance repair companies offer franchising opportunities throughout the country. A great way to purchase one of these businesses is to contact franchisors and find out more information about starting a franchise with them.
How you'll get in touch will depend on the company, but you'll likely need to call them or email the appropriate person. They'll be able to explain start-up costs, operational costs, and other franchise fees that you'll need to be aware of.
An interview with the VP of Mr. Appliance which offers Appliance Repair Franchises
Examples of appliance companies that allow for franchising opportunities include Mr. Appliance. Mr. Appliance might not be the right appliance repair business for you, but it's worth considering.
Looking through directories is a great option. All you have to do is visit a directory's website and then search for "appliance repair service" or something similar. Once you click submit, you'll see a list of available appliance repair services that you can purchase.
You'll be able to look at their reviews and the people who work there and find more information about their business to see if it's the one you want to buy. You'll want to talk to them about their pricing for home appliance repair and more to make sure they service the area you want to target.
Another option, instead of scouring through directories for an appliance service business for sale, is to work with a business broker. Business brokers will have more access to companies for sale that you might not be able to find on your own.
They'll be able to show you a list of appliance repair companies for sale and help you find the right one that fits your needs and aspirations. Business brokers can even advise you on running different types of businesses and help you throughout the purchasing process.
Before you jump the gun and buy an appliance repair business, there are a few things you'll want to think about. While you can think about many of these after the sale has gone through, it's better to have an idea beforehand so you can better serve your potential customers.
Not all appliance repair businesses offer the same services to customers. There are a lot of different kinds of appliances, and deciding if you want to focus on only a few or a wide range of them can help you market yourself to potential customers.
Some of the most common services appliance repair businesses provide include:
When considering which services you want to offer, you'll want to consider what your technicians can do. If you don't have anyone on staff who can handle washing machine repairs, then you don't want to advertise that you can do that until you have someone who can handle that type of repair.
Before going into any business venture, you need to consider how much you're willing to pay for the business and all the operational costs that come with your new company. You can buy an appliance repair company for as little as a few thousand dollars, but the price will vary greatly depending on the location and size. You rarely see one for sale for under $100,000, though.
The positive thing is that the cost to buy and operate an appliance repair business tends to be low. Since many of your technicians will be visiting locations away from the office, your rent, utilities, and other operational costs will be far lower than other types of businesses.
Some other things to think about regarding operational costs include how much you'll pay your employees if you're providing company vehicles, purchasing new equipment, or requiring your technicians to provide their own. There are ways to keep costs low, like avoiding buying appliance repair software, but setting aside time to plan accordingly is vital.
Depending on the state and municipalities where your business operates, you'll need various licenses and permits to legally and safely operate an appliance repair business. When considering the permits or licenses that you need, it will vary depending on the service or services you're offering.
If you're not offering HVAC repairs, you don't need to worry about getting a license that allows for that, but depending on the area, you might need different permits for different appliance repairs.
You'll want to look into this before seeing customers to head off potential lawsuits and fines from the city or state you live in. When purchasing an existing business, you might need a new business license to update it with the town or get an entirely new one.
For the most part, appliance repair companies operate during typical business hours. They're open from Monday through Friday from 9 am until 5 pm. These hours are great for most clients and employees, but if you want to reach more people, you might consider extended hours.
You'll be able to make more money and make one happy customer if you can send technicians out on weekends or after regular business hours to help someone. Of course, this isn't feasible for all appliance repair businesses, but it's something worth thinking about before you purchase one of these businesses.
Even if you cannot provide late-night or weekend repair services, adding 24-hour customer service can be beneficial. Whether it's via phone, email, or live chat, this is a great thing to consider when determining your hours of operation.
Before you buy an appliance repair business, there's a lot to learn. Here's what other avid business owners are wondering about purchasing these businesses that are for sale.
Each appliance repair business is different, but most will repair all kinds of appliances. Types of appliances that these companies can repair include dishwashers, refrigerators, stoves, washing machines, etc.
It will vary how much it'll cost to buy an appliance repair business. It depends on the size of the company, its location, and the particular business. A smaller business might cost $250,000, while others can reach well over $500,000.
The appliance repair industry is absolutely growing. There's been an increase in demand for reputable technicians to help with home appliance repair around the country. Some even go as far as to say that it's a recession-proof industry because people will always need professionals to help with appliance repairs and parts repairs as appliance sales rise.
Industry experience is a huge asset if you’re going to start your own appliance repair business. Working your way up through the ranks from an appliance repair tech to running operations would be one of the best pathways to having a full understanding of what is required to actually own your own appliance repair business. If you don’t have any appliance repair experience, you should at least have experience running your own business in another industry, and be willing to go through appliance repair tech training.